“It is in line with Sports Direct’s long held views on the investigation.

“It is also consistent with previous decisions taken by other regulatory bodies.”

And a JJB Sports spokesperson said it was “not in a position to comment on the reasons behind the OFT’s provisional decision to close the inquiry.”

Meanwhile, Sports Direct has confirmed that it is to pay £86.8m to buy a portfolio of properties from chief executive Mr Ashley despite the company’s independent directors valuing the assets at between £75m to £80m.

The agreed price is understood to be 60% higher than the most recent vacant possession valuation carried out by estate agents CBRE and is said to be based on the price Mr Ashley paid for the 32 sites over 15 years.

Sports Direct said in a statement that rents paid on the properties, £5.2m per year, could rise by 50% when the leases come up for renewal in March.

Of its current portfolio of 394 stores the company owns just 16 freeholds and one long leasehold.